Underwriting, Closing & Funding
Deciding on the deal, recording the decision, and getting from approval to the wire.
Sizing the loan
On Loan Info, start from purchase price, as-is value or payoff and LendingWise works out LTV, LTC, ARV and cash to close, updating live as you change inputs. A lesser-of price or as-is value option keeps purchase loans conservative. Your loan guidelines flag any deal outside policy on amount, rate, FICO, experience, points, LTV, LTC or ARV — flagged, not blocked.
Underwriting
| Tool | What it gives you |
|---|---|
| Property Info | Type, condition, as-is, appraised and after-repair value, rehab scope, rent roll. A file can carry several properties for portfolio or cross-collateralised loans. |
| Property Analytics (ask to enable) | Estimated value, MLS listing, comps, AVM, tax data and lien history inside the file. See Property Analytics. |
| 3rd Party Services | Credit, valuation, flood, background and more, ordered from the file with results stored back on it. See Integrations Overview. |
| AI Document Review (ask to enable) | Uploaded documents checked against rules you write — pass, fail or needs a human. See Required Docs. |
| Conditions | Each required doc can carry underwriting conditions; add file-specific ones as needed, back-office only or borrower-visible. |
| Deal Analysis | LTV, ARV-based LTV, LTC, DSCR, debt yield, cash-on-cash and borrower experience, calculated from the file. |
| Credit Memo | The written case — strengths, weaknesses, mitigants, recommendation. |
Order cheap, decisive things firstA soft pull or credit report that kills the deal saves you an appraisal fee.
Fix the inputs, not the ratioDeal Analysis is calculated from Loan Info and Property Info. A wrong LTV means a wrong value or loan amount.
The decision
Credit Decision records approve, deny, counter-offer or suspend, with conditions and rationale. Recording it can move the file status and trigger your automation — approval can raise closing tasks and notify the team. If you decline, Adverse Action produces and records the notice. Whether adverse-action and HMDA rules apply to you is a question for your compliance adviser.
Closing and funding
- Closing documents — your own Doc Wizard templates, or legal docs from Lightning Docs or DocLab. Then send them with E-Sign.
- HUD — the settlement statement, pre-filled from your program's default fees.
- Net Lender Funds to Title — on Loan Info; each fee carries Hold back and Pre-paid ticks so the figure reflects what you actually keep back. Set them once per loan program.
- Billing & Commissions — fees, commission splits and billing schedules, in phases.
- Capital sources (Fund Management add-on) — allocate funded principal across funds, investors or credit lines, each with a rate and capital-stack position. The badge turns green only when allocations equal the funded principal to the cent.
Hard stops keep files honestStatus hard stops can require fields, approved documents and workflow steps before a file enters a status like Clear to Close. See Loan Stages & File Statuses.
Funding is the hand-offAfter funding the loan belongs to servicing — and on construction deals, draw management. Clear every condition, finalise fees and attribute capital the same day.
Full detail: in LendingWise, open Loan Origination → User Guide → Underwriting & Credit and Closing & Funding.
Updated about 9 hours ago